Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. No doubt, cyber insurance is a hot topic right now.

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Insurance Cyber Insurance Data breaches Backups 105

SecureWorld News

SEPTEMBER 10, 2020

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware.

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Cyber Insurance Insurance Ransomware Cyber Attacks 68

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

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Insurance Cyber Insurance Ransomware InfoSec 113

Centraleyes

DECEMBER 16, 2024

We are seeing increased use of AI to automate attacks, including malware generation and phishing campaigns. Insurance Becomes a Necessity The rise of high-profile cyberattacks has led to increased demand for cyber insurance. Ensuring visibility, control, and data protection across these environments will be paramount.

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Cybersecurity Insurance Cyber Insurance Risk 98

Krebs on Security

JULY 24, 2018

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. million total. THE LAWSUIT.

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Banking Insurance Computers and Electronics Cyber Insurance 199

Hacker's King

DECEMBER 24, 2024

AI-powered malware and phishing schemes can adapt to defenses in real time, making them harder to detect and counter. Expansion of Cyber Insurance As cyberattacks grow in frequency and scale, the demand for cyber insurance will surge. Organizations must invest in advanced AI-based security tools to stay ahead.

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Cybersecurity Cyber Insurance IoT Insurance 59

Webroot

JULY 25, 2022

Cyber insurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyber insurance has gained prominence across the industry. The cyber insurance market is expected to reach around $20B by 2025.

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Cyber Insurance Insurance Marketing Ransomware 136

Duo's Security Blog

OCTOBER 18, 2021

One area where campuses have been collaborating recently are changes around cyber liability insurance for higher education, an opportunity for campus cybersecurity teams to combine forces with their risk management team. In a recent Duo blog post, we gave an overview of cyber liability insurance.

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Insurance Education Risk Cyber Insurance 97

eSecurity Planet

JULY 12, 2022

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 Cyber Insurance Companies for 2022 Best Ransomware Removal and Recovery Services. Most had been infected.

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Ransomware Cyber Insurance Backups Insurance 144

SecureWorld News

MARCH 17, 2025

Despite these setbacks, the company has stated that, with its cyber insurance coverage and ongoing remediation efforts, it doesn't expect a long-term material impact on its business fundamentals. The incident contributed to a short-term stock price dip of about 2% and added to operational expenses during the recovery phase.

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Cyber Attacks Digital transformation Threat Detection Penetration Testing 109

BH Consulting

JUNE 22, 2021

Organisations are coming under increasing pressure to take out cybersecurity insurance cover. Also known as cyber risk insurance, it’s now a prerequisite in some public sector tenders. Sometimes, contracts or proposals ask suppliers for both cybersecurity insurance and documented security controls.

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Insurance Cybersecurity Cyber Insurance Cyber Risk 83

Cisco Security

JANUARY 10, 2023

As a result of this, next year we could see CISOs tightening up the disclosure decision making process, focusing on quicker and greater clarity on breach impact, and even looking to include personal liability cover in cyber insurance contracts. Increasing demands from insurers. Getting the basics right.

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CISO Insurance Cyber Insurance Phishing 142

The Last Watchdog

DECEMBER 18, 2024

Government initiatives and awareness campaigns will educate users on phishing and malware threats. Owen Dylan Owen , CISO, Nightwing In 2025, cyber regulations will impact key sectors like Defense, Healthcare, Finance, and Energy.

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Cybersecurity CISO Risk Government 130

SecureWorld News

NOVEMBER 12, 2020

First, however, let's look at the top 15 cyber threats organizations face right now, according to the report: Malware. During the reporting period, Emotet evolved into a botnet, increased its activity, and initiated new localized spam campaigns with spear-phishing functionality to install ransomware or steal information.". Data Breach.

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Cyber threats Insurance Cyber Insurance Ransomware 129

Security Boulevard

MAY 12, 2022

Phishing attacks? The Role Of Cybersecurity Insurance In A Predictive Security. Cybersecurity insurance in recent years has become a modern day stopgap for corporations looking to offset their losses for attacks. What Is Not Covered Under Cyber Insurance? Answer: More capacity! Make it faster!

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Cyber Insurance Insurance Marketing Firewall 105

Security Affairs

FEBRUARY 8, 2024

26 key cyber security stats for 2024 that every user should know, from rising cyber crime rates to the impact of AI technolog y. Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches.

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Social Engineering Cyber Attacks Cyber Insurance IoT 141

Malwarebytes

JULY 5, 2021

Researchers explore the insecure world of the subdomain (Source: Can i take your subdomain) Cyber insurance model is broken, consider banning ransomware payments (Source: The Register) How facial recognition solutions can safeguard the hybrid workplace (Source: Help Net Security) Capital One hacker faces fresh charges for 2019 hacking spree (Source: (..)

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Cyber Insurance Social Engineering Scams Insurance 107

SC Magazine

JULY 13, 2021

The data supports a June Avanan report , which confirmed health care has been among the most targeted with phishing attacks during the first half of 2021, alongside the IT and manufacturing industries. The health care sector saw over 6,000 phishing emails out of an average of 451,792 emails. Another 20.7% were attributed to extortion.

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Data breaches Insurance Healthcare Education 113

SecureList

NOVEMBER 9, 2022

Phishing attacks are going to become even more sophisticated, since a lot of basic tactics have already been tried this year, and businesses learned to repel those. As such, we anticipate a booming cyber insurance industry as many organizations heed these warnings and seek to guard against ransomware attacks.

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Cybersecurity Cyber Insurance Cybercrime IoT 145

The Last Watchdog

OCTOBER 5, 2023

Erin: What are some of the biggest cyber threats that businesses face today? Byron: The economic impact of phishing, ransomware, business logic hacking, Business Email Compromise (BEC) and Distributed Denial of Service (DDoS) attacks continues to be devastating. Erin: What role does human error play in cybersecurity incidents?

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Cyber threats Cyber Insurance Threat Detection Cybersecurity 203

BH Consulting

JULY 17, 2024

He added that IT professionals relying on strong passwords or the ability to spot phishing isn’t enough. Cyber insurance: whisper it, but it seems to be working Cyber insurance premiums have dropped by 15 per cent compared to their peak in 2022. The findings echo Coalition’s 2024 Cyber Claims report.

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Cyber Insurance Insurance Risk Marketing 69

Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.

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Cyber Attacks Phishing Ransomware Cyber Insurance 59

eSecurity Planet

OCTOBER 5, 2021

Paying for internal assessments and penetration tests by a third party can provide fresh thinking and a level of assurance for stakeholders such as customers, the board of directors, and the insurance company that wrote our cyber insurance policy. Is the attack small enough that we do not need to file a cyber insurance claim?

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Ransomware Backups Insurance Cyber Insurance 132

Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. Cyber incidents happen every day. Email phishing, brute force, and even employees leaving with a host of USB sticks, organizations face countless and often unreported cyber attacks.

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Cybersecurity Cyber Insurance Insurance Risk 98

Malwarebytes

MAY 2, 2022

Last week on Malwarebytes Labs: Why MITRE matters to SMBs Apple’s child safety features are coming to a Messages app near you Why software has so many vulnerabilities, with Tanya Janca: Lock and Code S03E09 Watch out for this SMS phish promising a tax refund Rogue ads phishing for cryptocurrency: Are you secure?

Cyber Insurance 76

Cyber Insurance Insurance Cryptocurrency Scams 76

SecureWorld News

DECEMBER 7, 2022

Cyber insurance trends in 2023. As the three previous trends discussed how certain aspects of the cybersecurity industry will continue to grow in 2023, expect the same from the cyber insurance market. I believe we'll see more exemption clauses denying coverage for ransomware and other specific attack types.".

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Cybersecurity Cyber Insurance Insurance Social Engineering 98

Krebs on Security

DECEMBER 12, 2018

companies with the Cyber Risk Score, and then invited these companies to sign up and see how their score compares with that of other organizations in their industry. The stated use cases for the Cyber Risk Score include the potential for cyber insurance pricing and underwriting, and evaluating supply chain risk (i.e.,

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Cyber Risk Energy and Utilities Risk Marketing 245

Security Affairs

APRIL 24, 2022

T-Mobile confirms Lapsus$ had access its systems Are you using Java 15/16/17 or 18 in production? Patch them now!

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Webroot

SEPTEMBER 7, 2023

The number of ransomware attacks has increased by 18% , while the worldwide volume of phishing attacks doubled to 500 million in 2022. The best way to weather these challenges is to become a cyber resilient business. Cybercrime is on the rise. And those attacks are costing companies a lot of money.

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Encryption Cyber Insurance Cybercrime Phishing 122

Webroot

JUNE 2, 2022

Ransomware, malware and phishing threats keep evolving. Your SMB customers likely don’t have the necessary security staff and tools to protect and respond to these threats. Help your customers avoid becoming a victim of data theft and extortion with industry-leading, reliable threat detection and response from Webroot.

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Threat Detection Cyber Insurance Small Business Insurance 116

Security Affairs

JUNE 18, 2024

In some cases, attackers are even leveraging the threat of regulatory actions or causing cyber insurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. Developers author sophisticated ransomware variants and provide regular updates to ensure their efficacy.

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Ransomware Cryptocurrency Insurance Cybercrime 140

CyberSecurity Insiders

JUNE 22, 2023

Instead, the ransom pay can be covered from a cyber insurance policy, provided it is taken prior to the launch of the attack and covers the costs associated with the malware attack. Nope, says a renowned international bank from UK. Remember, prevention is key when it comes to ransomware attacks.

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Ransomware Banking Cyber Insurance Insurance 96

Duo's Security Blog

SEPTEMBER 1, 2023

Unlike passwords, passkeys are always strong and phishing resistant. Passkeys based on Webauthn are proven to be resistant to phishing, credential stuffing, adversary-in-the-middle (AITM), server breaches and may other cyberattacks. It’s also a requirement to get cyber insurance.

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Passwords Authentication Insurance Cyber Insurance 133

Security Boulevard

FEBRUARY 8, 2023

Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability. The expert panelists held an honest discussion about insurability difficulties for MSPs.

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Cyber Insurance Insurance Marketing Risk 52

Webroot

SEPTEMBER 24, 2024

In today’s world, both small businesses and everyday consumers face a growing number of cyber threats. From ransomware attacks to phishing scams, hackers are becoming more sophisticated. For consumers: Stay alert to potential phishing attacks or scams related to global events.

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Cyber threats Small Business Scams Cybercrime 114

CyberSecurity Insiders

DECEMBER 18, 2022

In 2023, ‘knowing thy enemy’ in cyber will be more complicated than ever before – but it is critical that organizations remain aware of the realities of cyber risk and cease to focus on the ‘boogie man’ of the internet that features in sensationalist reporting. 3 – Crypto-jacking neglect gets dangerous.

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Cybersecurity CISO Insurance Ransomware 125

Security Boulevard

JUNE 8, 2021

Human error is still the number one cause of cyber attack and home working could make this even more prominent. In 2020, Verizon found that 67% of cyber attacks were down to phishing and Business Email Compromise.

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Cyber Insurance Cyber Attacks Cyber threats Insurance 105